Should the 49ers sign a splashy free-agent wide receiver?

The 49ers approach to free agency last year turned out to be a winning one. Instead of engaging in the most expensive part of free agency, which is the first part, the 49ers struck late. That’s when they signed safety Donte Whitner (three-year deal), cornerback Carlos Rogers (one year), kicker David Akers (three years) safety Dashon Goldson (one year), center Jonathan Goodwin (three years), and wide receiver Braylon Edwards (one year).

That strategy worked better than anyone could have imagined. The team hit home runs on all but Edwards. But is that the right strategy for this team right now? The 49ers are no longer a sub-.500 team with abundant needs. This is a well-stocked group that was two botched punts from the Super Bowl, a game they probably would have won.

Not only that, the team has plenty of cap room to not only sign their own free agents, but to make a splashy signing at wide receiver.

Additionally, the 49ers’ attempts to sign second-tier receivers has failed miserably. Throw Edwards on the heap that includes Antonio Bryant, Bryant Johnson and Ashley Lelie. Given that history, and the team’s available cash, maybe it’s time to strike early and over pay slightly.

But that’s risky too. The top wide receiver prospects all have flaws:

Stevie Johnson, Bills: Johnson lacks elite speed and can be immature, particularly after touchdowns, where he’s been flagged repeatedly for excessive celebration. He also has a devastating knack for dropping game-winning touchdown passes. Nevertheless, he’s productive and gets separation.

Vincent Jackson, Chargers: The enduring image most Bay Area fans have is of Jackson failing to leap for a touchdown pass against the Raiders on a Thursday night and then failing to run after the defensive back who intercepted the ball. Jackson also staged a lengthy contract holdout and it appears the Chargers have little interest in putting the franchise label on him. But he is big and fast and has been productive. But for me, too many red flags.

Dwayne Bowe, Chiefs: Another big, fast receiver who is probably the best of this year’s class, but it appears as if Kansas City will retain him.

The other option? Going after Steelers super-fast receiver Mike Wallace with a front-loaded contract. The Steelers are $10 million over the salary cap, and if a team offers Wallace, a restricted free agent, a deal PIttsburgh can’t match, Wallace would leave. The problem? Because he’s restricted, the 49ers would have to surrender a first-round pick.

But for the 49ers, this might be worth it. They’d get a proven receiver with deep-threat ability for the 30th overall pick in a receiver-weak draft. Whomever the 49ers sign, he must be a hard-worker and be willing to put in time with quarterback Alex Smith.

One reason all those other free-agent receivers failed was because Smith never became familiar with them. Smith needs thousands of practice throws in order to get comfortable with a new player. Your thoughts?